Credit Union 1 (Illinois)
| Company type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | 1958 |
| Headquarters | Lombard , United States |
Area served | Illinois, Indiana, Georgia, Nevada |
| Products | Financial services |
| Website | www |
Credit Union 1 is a credit union with its main office located in Lombard, Illinois. It provides financial services to nearly 89,000 members throughout Illinois, Indiana, Georgia, and Nevada. The credit union's coverage area spans the Chicago metropolitan region, northern and central parts of Illinois, northwest Indiana, as well as the Las Vegas metropolitan area. It holds federal insurance through the National Credit Union Administration (NCUA).
History
Originally established in 1958 under the name Chanute Military Credit Union, it was created to serve the military personnel and their families at Chanute Air Force Base. Following the base’s anticipated closure in the late 1970s, the credit union broadened its reach. In 1979, it combined operations with Fort Sheridan Federal Credit Union, which allowed membership to expand to include Military Reserve and National Guard members across Illinois. Subsequently, the institution transitioned from an occupational-based membership to an associational model, eliminating restrictions tied to military affiliation.
The credit union sustained its expansion through strategic mergers, acquisitions, and growth of Select Employee Groups (SEGs), which diversified its member base. Prominent SEGs encompass employees from the state of Illinois, Cook County, University of Illinois at Chicago, Eastern Illinois University, Navistar, Tribune Companies, Aon, Elmhurst Memorial Hospital, Alzheimer’s Association, Hyatt Hotels, among others.
Additionally, Credit Union 1 secured naming rights for the venue formerly known as Hollywood Casino Amphitheater; it is currently recognized as the Credit Union 1 Amphitheater located in Tinley Park, Illinois.